Assetmark Inc. Has $666,000 Position in Arrow Electronics, Inc. (NYSE:ARW)

Assetmark Inc. cut its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 46.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,888 shares of the technology company's stock after selling 5,196 shares during the quarter. Assetmark Inc.'s holdings in Arrow Electronics were worth $666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARW. True Wealth Design LLC bought a new stake in shares of Arrow Electronics in the 3rd quarter worth approximately $31,000. Brooklyn Investment Group acquired a new position in shares of Arrow Electronics in the third quarter valued at $40,000. Principal Securities Inc. lifted its position in Arrow Electronics by 35.7% in the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock worth $54,000 after purchasing an additional 126 shares during the period. Parkside Financial Bank & Trust boosted its stake in Arrow Electronics by 24.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company's stock worth $64,000 after buying an additional 112 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Arrow Electronics by 26.5% in the 4th quarter. IFP Advisors Inc now owns 630 shares of the technology company's stock valued at $71,000 after buying an additional 132 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Yun Sung Cho sold 353 shares of Arrow Electronics stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $112.11, for a total value of $39,574.83. Following the completion of the transaction, the chief accounting officer now directly owns 1,549 shares of the company's stock, valued at $173,658.39. The trade was a 18.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating for the company in a report on Friday, February 7th. Bank of America downgraded Arrow Electronics from a "neutral" rating to an "underperform" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $121.25.

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Arrow Electronics Stock Down 2.0 %

ARW opened at $102.57 on Thursday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.52 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. The firm's 50-day simple moving average is $111.87 and its 200-day simple moving average is $120.57. Arrow Electronics, Inc. has a twelve month low of $102.21 and a twelve month high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. Equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Arrow Electronics Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.

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